COVID -19 Update
As COVID-19 and its economic tailwind lock the world down the New Zealand government has embarked on an ambitious elimination policy. The cost of COVID is still to be accounted for but in these uncertain times New Zealand, more than ever, shines as a beacon for financial security, sensibility and safety.
Key economic advantages
- Stable, consistent and centrist governments for the past 30 years
- Low government debt at 21% of GDP (2019)
- Strong Australasian banking environment
- Low unemployment with high participation rates
- Low inflation managed by independent Reserve Bank
- Heavily deregulated, free market economy
Leading financial indicators
Follow links for more data and detailed information
New Zealand has an open economy that works on free market principles.
Over the last 30 years the New Zealand economy has gone from being one of the most regulated in the OECD to one of the least regulated and most free-market based economies in the world.
Fertile soil and excellent growing conditions coupled with sophisticated farming methods and advanced agricultural technology provide the ideal environment for pastoral, forestry and horticulture activities. Various primary commodities account for around half of all goods exports and New Zealand is one of the top five dairy exporters in the world.
Complementing primary production are sizeable manufacturing and service sectors and growing high-tech capabilities. Tourism, film production, and winemaking are also significant.
It’s an outward-looking, internationally competitive economy with exports accounting for circa 30% of GDP.
New Zealand has a low-inflation environment, with monetary policy managed by the Reserve Bank, our independent central bank, that is charged with maintaining price stability.
We have a long-standing floating exchange rate. There are no exchange controls or restrictions on bringing in or repatriating funds.
Our top ten trading partners in 2019 were, in order, Australia, China, the European Union, USA, Japan, Singapore, Korea, Thailand, Malaysia and India.
